GE Vernova (NYSE:GEV) Stock Price Down 0.6% - Time to Sell?

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares dropped 0.6% on Thursday . The company traded as low as $365.00 and last traded at $367.53. Approximately 611,455 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 3,717,457 shares. The stock had previously closed at $369.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a "buy" rating and a $354.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Baird R W raised GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Evercore ISI raised their price target on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Finally, Bank of America lifted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $350.13.

GE Vernova Trading Up 1.4 %

The firm has a market capitalization of $102.70 billion and a P/E ratio of 67.01. The stock has a 50 day simple moving average of $362.38 and a 200-day simple moving average of $295.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Institutional investors and hedge funds have recently bought and sold shares of the stock. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at about $25,000. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after acquiring an additional 39 shares during the period. Fairway Wealth LLC lifted its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares during the period. Finally, Navigoe LLC bought a new position in shares of GE Vernova in the fourth quarter worth approximately $27,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.